United States stocks close lower, snapping Dow's 10-day winning streak

Posted - August 13 201707:07

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United States stocks close lower, snapping Dow's 10-day winning streak

The Nikkei slumped to its lowest close for nearly three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump's apocalyptic warning over North Korea's weapons programme.

Markets saw a tentative recovery in risk appetite in overnight US and early Asian trading, but anxiety mounted again as Asian stocks fell back and London, Frankfurt and Paris dropped 0.5-1.2 percent in Europe. The Russell 2000 index of smaller-company stocks gave up 4.02 points, or 0.3 percent, to 1,410.15.

Currency traders consolidated positions in the Japanese yen and Swiss franc, and pushed up the dollar index by unwinding some of the recent bets on the euro.

A spokesman for the Korean People's Army said in a statement on Wednesday it was "carefully examining" plans for a missile attack on the U.S. Pacific territory of Guam, which has a large U.S. military base. The Dow Jones industrial average slid 0.9 percent to 21,844.01.

The dollar slipped to as low as 109.11 yen in early Asian trade on Friday, its lowest level since June 14, when the greenback had fallen to as low as 108.81 yen.

The overall financials group, which accounts for roughly a third of the index, declined 1.4 percent, while energy shares also fell 1.4 percent as oil prices turned down. Japan is the world's biggest creditor country and there is an assumption investors there will repatriate funds in a crisis.

Switzerland's franc on Wednesday posted its biggest single-day rise against the euro since the central bank removed its cap on the currency in January 2015.

Oil prices edged higher after a report showed US refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited gains.

With Asian bourses and USA stock futures weakening early on Wednesday, the safe-haven 10-year Treasury yield was last down 3 basis points. It has weakened 1.5 percent since hitting a 2-1/2 year high of 1.1910 on August 2.

ANALYST TAKE: "Equities look set to end this week on a downer, as geopolitical uncertainty regarding North Korea shakes volatility from its 2017 slumber", said Mike van Dulken, head of Research at Accendo Markets. Brent, the global benchmark, was last down 25 cents a barrel at $51.89.

The tech-laden Nasdaq CompositeIndex plummeted 135.46 points, or 2.1%, to close at 6,216.87.

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He found Robby Anderson on a 53-yard deep pass where Anderson beat Logan Ryan, the Titans' big free-agent signing at cornerback. Hackenberg's average depth of target hovered around three yards until his final series, and he averaged 5.08 yards per attempt.

In commodities trading, crude oil futures are rising $0.36 to $49.53 a barrel after slipping $0.22 to $49.17 a barrel on Tuesday. Shares of Snap ( SNAP.N ) ended down 14 percent after hitting a record low following a miss on revenue and daily active users.

Finally, Advisory Services Network LLC acquired a new position in Tesla during the first quarter valued at approximately $122,000. Tesla last hit the capital markets in March, raising close to $1 billion in convertible notes and almost $400 million in stock.

Chinese government-backed scholars said Beijing is deeply concerned about the latest statements from Trump and North Korea. Kim's government, saying a previous threat to rain down "fire and fury" on the North may not have been tough enough .

Wenger has insisted several times that Sanchez will not be sold, and he's now with Sky Bet to remain with the Gunners. It can happen in pre-season and anyway, I don't think I would have included him on Friday night.

The injury occurred in the first quarter when Murphy was involved in a third-down stop against the Ravens offense. The fourth year veteran out of Stanford had a career year in 2016, totaling nine sacks and 47 combined tackles.

On the currency markets, the pound was up 0.03% against the dollar at $1.2981 but down 0.23% against the euro at 1.0999 euros. European stock markets fell further in opening trade on Friday on intensifying fears over North Korea, dealers said.

But if North Korea escalates, the US must be prepared to escalate to massive disarming strikes, including use of nuclear weapons. At the same time , the prospect of disintegration or chaos in North Korea evokes at least two major concerns in China.

Following trading activity for Uniti Group Inc.(:UNIT), we can see that the stock has moved onto today's list of most actives. Barrington Strategic Wealth Management Grp Limited Liability Company holds 17,773 shares or 0.98% of its portfolio.

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